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2101  Economy / Speculation / Re: Bitcoin 12,000 in 2023. on: January 31, 2023, 06:48:02 PM
It seems to me that bitcoin is in bad demand right now. You can see that in the volume of purchases. It looks more like a dead cat bounce to me. I don't know if we will see 12k for bitcoin, but the price could easily fall again. So far, nothing has changed positively in the world and inflation has not gone anywhere.
Dead cat bounce? Are you kidding me it has passed over 23k, that means it's going up a lot more than just a dead cat bounce. That would have been true maybe like 20% ago, but now we are too high. Even if it doesn't end up going to 30k or 50k or whatever, it has gone up a lot to call this a dead cat bounce, it's beyond that already.

It's start of a bull run, there is no guarantee that this bull run will go on, it's only a possibility that we are going to end up with something much clearer and I think it's going to be at a point where it will make sure that we are going down at a great path to this. I think just keep holding and making profit will prove you wrong.
2102  Alternate cryptocurrencies / Altcoin Discussion / Re: JP Morgan was a major early investor in Ethereum? on: January 31, 2023, 05:56:19 PM
Reason #1001 why I only invest in bitcoin. Everything else is a copycat scam token.
I would say there will always be some people who will find hatred, and for some reason they enjoy that, and I do not get why. There are so many people out there who hate stuff that has nothing to do with them as well, like why are you angry at something that doesn't even matter to you. In this regard, if you really want to invest into ETH and won't because of this, then just avoid it and move on.

JP Morgan did invested into crypto as a whole a few years back, I wouldn't be shocked to learn they got some ETH too considering it's the second biggest coin, but if that makes you not want to invest, then I fear to say that they have billions in bitcoin as well, and they could sell at any moment.
2103  Economy / Economics / Re: The Economist: 335000 people could "freeze to death" in Europe on: January 30, 2023, 08:55:59 PM
since that I am Canadian.   who are these 13,000 people that are dying from the cold in my country?  those homeless that pretty much never seem to die from weather anymore?   13,000 dead people from cold in canada would be all over the headlines. 

since i think that numbers false the USA number is prob just as false.
Maybe they raised the number for Canada as it wouldn't seem such harsh contrast against their own death count.
And as a Finnish guy i understand that Canada is pretty well prepared for cold weather as well so those numbers don't make much sense.
We know it's not just about electricity, it's about isolation of buildings, quadruple-glazed windows and clothing etc.

When one has been fighting cold all of their lives they are pretty well prepared even with some blackouts and super low temperatures.
I agree, homeless people are harder to die because they end up getting ready for the worst possible thing, and I do not believe that freeze to death is really a realistic thing in todays world. Like seriously, unless you are in wilderness, just go to a coffee house, even if you do not buy anything, it's better to stay there for an hour instead of dying, and then if they ask you to leave, you will leave.

The idea that people will die from it makes no sense to me, it's probably calculating what we have seen so far, and how it will go under that and it should cause this, but they do not take into consideration what people do when it gets worse, they expect people to do nothing about it and just die?
2104  Economy / Trading Discussion / Re: Has someone tried to use ChatGPT to help in trading? on: January 30, 2023, 08:48:40 PM
I tried asking something along the lines of your question and it returned me the same result. Honestly, props to the creators of ChatGPT because they don't try to milk the popularity of their AI. They are blunt with the limits of its technology and does educate the user as to why it's not advisable to let someone decide for your financial moves. There are some specialized AIs that can predict prices for stocks within the next few minutes, and an hour at most. They use this highly in stock trading and is constantly being updated to match with the current scenario in the stock market. Perhaps, if these AIs go public, people can use this and try whether what information it gives out is useful or not.
That is both for their moral reasons I am sure, but it is also because of legal reasons. Can you imagine if chatgpt gave financial advice? That would mean that if you end up following what it says and you lose money, there is a good chance you could sue them and if they allowed such a feature that means millions may have done it and millions would sue. They wouldn't want a headache like that, I am certain that they wanted to just be okay with it and they just wanted to keep it going.

This way they would be able to get rid of any potential bad lawsuits coming their way. I am sure they also wanted to avoid that for moral reasons too, but that wasn't the first reason for sure, it was legal reasons first.
2105  Economy / Trading Discussion / Re: How bitcoin supply can be more than 21 million on: January 29, 2023, 10:21:04 AM
This is why I always thought leverage trading is a scam since you're not actually trade with the real coin, but you're trading with the underlying asset created by the exchange. Leverage trading can trick anyone with false understanding like this one, not to mention there's a rules you need to understand and each exchange differ from the other. If you want to get a real experience to trade Bitcoin, you can use P2P platform e.g. localcryptos, hodl hodl.
I think this was already explained by some exchanges (if not all) before they implement such feature. This can be included in one of the rules or mechanics on how this game worked, so I wouldn't call it a scam. It only becomes a scam if the exchange itself is also a scam.

But, if it's true that rules for leverage trading differs from one exchange to the other then this might be (one of) the reason on why many traders are losing because they didn't bother checking the rules thinking all of them are still the same. Other than p2p, spot trading will also allows you to experience on what is like to trade a real crypto plus they are also less risky than leverage trading.
2106  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: January 28, 2023, 01:09:30 PM
After whitewash in the ODI series, it can certainly be a little worry for India when they defeated by New Zealand  in the T20I match. The criticism can also arise about the performance of the T20 team members. Although losing a match is reasonable . India maybe lost the match in the last two overs. New Zealand scored 17 runs in the 19th over and 11 in the 20th over, 28 runs in these two overs helped New Zealand score big. India lost the match by just 21 runs.
You need to check again all details about this match because Arshdeep Singh concede 27 runs in last over which was hit by Daryl Michael and these runs were the turning point for the match with their top order also fail to have better start and lost wickets very quickly.

Here we have to praise Santner who is the best white ball bowler for them in recent times because his figures were also amazing specially while he bowls sixth over maiden against Surya Kumar, and then we have another maiden over in last few overs which give big setback to Indian batting which was struggling badly and have no one to hold them for having good end of this match but as two matches remaining, and they will fight back good as they have hobby of giving good fights after defeat at home.
2107  Economy / Economics / Re: In your country, today is money the real root of all evil? on: January 27, 2023, 08:52:52 PM
I think the desire for the people to do crimes only to earn much money have been increasing overtime especially on poorer countries. Gold came first than money so yes it was the first to be the root of all evil but even up until now, people are still greedy about it because the rates of it are much higher than fiats. We shouldn't be jealous about those rich people.

They can spend their money all what they want because they also work hard to earn it. It's not their fault on why we are poor but it can be the fault of our ancestors, yet we shouldn't heavily blame them. We still can do something in order to improve our lives but it must be done in a legal way.
I do not think that it is true for "every" nation. Even though there are plenty of nations with corruption, we could say that there are some nations who have managed to successfully put law above all the powerful people. Meaning, even if the president of that nation, usually called the most powerful person, could still get punished if they do not follow the law and with a few examples in the past, they managed to beat the corruption.

This is why I believe that they did not caused any trouble further along and they just managed to keep money not being an issue. Because if you can't be corrupt, then why would you rule a nation badly? You might as well do a good job and actually help people because you can't just profit yourself.
2108  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: January 27, 2023, 03:29:51 PM
Does not look so as India have managed to restrict the Indian total to 176 runs. These runs are not less but at the same time it is not such a score which is not chaseable. Not to mention at India conceded 27 runs in the last over by Arshdeep. This could be the turning point of this match.

I think Indian team were on top for the entire first innings but the last over changed the momentum completely. How strange is that a six on a No Ball, changes the complexion of the match completely. India will need to play well as the run rate required is just under 9 runs per over.
Indian bowlers were in good shape and not allowed Kiwis for having freely batting throughout their inning, but last over give some momentum to them, and they were able to have target like this even this is still achievable, but now we need some good effort from the Indian batting lineup as well because in this short format anything is possible so two or three good balls can change the match situation quickly but still I have feeling India will win this match without any trouble because right now they have disciplined batting line up and all are doing good job in last few weeks in both formats.

Just India started their inning and after the end of first over we have five runs on board which is good sign because always having boundary in first over is good for the batsman and batting side in chase.
2109  Economy / Gambling discussion / Re: ODI cricket and general cricketing discussion [self - mod] on: January 27, 2023, 03:21:02 PM
South Africa - England
Yeh I think taking decision of batting first is a wise choice because pitch are not bowler friendly so it's a great chance for SouthAfrica to build a strong target to defend, now the initial batter like De kock and the captain T.bavuma didn't score good to give a strong momentum to upcoming batter for good target. Now Van Der dussen take a charge and score a good partnership 71 runs with a klassen but now it's broken only van der dussen left with 70 not out . South Africa has totally 202 runs in 36 over while four batter are down
No doubt this was good decision by South Africa after winning toss having bat first but at the end their batsmen fail to set good target because right now as we have English batting lineup South Africa needs target around 320 to 330 which could be good for them but still we are going to have an interesting match with England having very good batting lineup, and they all are firing in last few months which is plus point for them but now how they will face South African pace attack it's interesting Rabada, Nortje and Parnell are also having good time to bowl at home against world champions.

Dussen and Miller are hero's for the South African batting as after having good start they have done good batting in middle and reach at the target of 298.
2110  Economy / Trading Discussion / Re: Has someone tried to use ChatGPT to help in trading? on: January 27, 2023, 02:25:11 PM
this so-called AI has nothing to do with the actual process of trading, nor does it have anything at all to do with predicting market movements.
In my understanding as well, this bot cannot be integrated to crypto trading as of now but I read that there are developments to code bots with the help of this special breed. I guess it would be like choosing an appropriate tool at right time. When this bot will be capable of solving the practical difficulties of manual trading, I guess there would be better chances for this to be sustaining with crypto traders.

Obviously the AI doesn't have to predict the future market movements but rather create a script based on the available market indicators and probably public scripts already coded by other traders or programmers.
Anyone can create any bot but what about the success ratio? Traders are deliberate on finding an effective bot which is the reason they are turning into AI technology now.
2111  Economy / Trading Discussion / Re: Your successes over the past 5 years on: January 27, 2023, 12:45:10 PM
if someone is not very lucky to increase their deposit, then you probably have accumulated experience
I agree with this point. Every investment may return us some profit or experience. But, there would be no point on harvesting only experiences out of subsequent attempts because if you are suitable for investing then you can get profits by making use of the experiences, you got from your prior investment attempts. But, there are unique opportunity with bitcoin investment to avoid bitter experiences as there are methods available to to see only profits.

I mean, those who opted bitcoin with long term goals, must have got chances to increase their deposits (still they got experiences but not from losses). Bitcoin is a deflationary asset and your investment will grow for 5x to 10x for every four years. Choose bitcoin investments with proper plans and avoid frustrating experiences.
2112  Economy / Trading Discussion / Re: Retracement will finally happen on: January 27, 2023, 12:15:01 PM
It only means that the supply there are so high and the price already exhausted where we can expect that the price may go down up to its major support in around $19,000 to $20,000. The Major resistance is so strong at around $24,000 to $25,000. The BTC should consolidate more for the price have strong momentum to breakout.
But, we have not tested around $23,700 levels for only once which means in my opinion, we can expect bitcoin market to keep trying to penetrate $24k to $25k levels before making a retracement. Yeah, it might be too early to expect for a retracement. Hopefully we are still in the middle of a short term bullish wave which may extend up to $27k levels in coming days.

Is it bad or is it good? Even though that the price will finally retrace, it only means a good movement for BTC because it will only confirm that we are already in bullish.
Regardless of whether it is good or bad, retracement is just part of every wave hence we need to accept and must look for perfect reversal point to make better DCA. We may not have bitcoin to break $20k levels; so we may keep buying around $21k-$20k levels.
2113  Economy / Trading Discussion / Re: Best strategy for Dollar Cost Averaging on: January 27, 2023, 11:29:10 AM
What is your best strategy for Dollar Cost Averaging, do you do it weekly, monthly?
What do you advice and why?
You may keep your investment habits as simple as possible like how I am doing. I mean there would be no compulsion for same amount and in regular interval. I am doing like a piggy bank saving; yes, I do buy bitcoins based on my available fund and based on my interest on buying and not regularly buying or not for the same amount. But, there are enough reasons why criteria for DCA emphasises these. Let me explain.

If you buy for a small amount during bull market and for bigger amount in bear market then your overall profit/loss level will get impacted heavily. Similarly when you are not buying at regular interval then you may miss any "ultimate bottom" levels.

But, when you are planning for long term holding like 5 years or 10 years then you never need to bother any of these criteria as bitcoin market will peak for every 4 years and you will be into profits after 4 years for sure.
2114  Alternate cryptocurrencies / Altcoin Discussion / Re: What makes you into crypto at the moment? on: January 26, 2023, 09:56:50 PM
That was then. I was initially into crypto right before the pandemic, so regardless of whether it actually happened or not, I would've probably stayed all the same. I'm still into crypto even after that dump since, well, I know what crypto is now and what Bitcoin could be (or is already). I'm more into using it as an investment, though I have used it as a form of payment method in the past a few times, but since those cases are rare, I wouldn't really say I'm into crypto for that.
It is of course a good decision to stay in even during the dump, because if you know enough about bitcoin, you would know that it may not be great for now, but it has a potential to go up and that will make sure that you are going to do well enough.

This is why it's quite important to keep doing as well as you possibly could. I know that it's not going to be easy, and I know that it will take some time, but at the end of the day it's going to be something that will be profitable if you wait long enough. I believe that it is going to be a very difficult job to do, and it is going to be tough to handle, but it is definitely not a bad decision to stay.
2115  Economy / Speculation / Re: How was your belief formed? on: January 26, 2023, 09:13:43 PM
cycles, and how we all going about it. For those who have witnessed it in the past, I would say that we have trusted it already because it really did gave us some huge profits specially in the bear market.

I know that others may argue that the pattern might break at some point. But remember that we have been in the bear and bull cycle and so far still met the criteria to hit every 4 years. So that is where the trust it, and we all know that the next bull run might happen next year till 2025 and so we will continue to invest today and wait till the price goes on another all time high.
I do agree that it was something that is definitely a bit of a challenge to begin with on making it, then breaking it would be even harder to handle and that's why I do not think that it will happen. I think it is a lot more possible to see bitcoin being on this cycle of ups and downs for a while and it will be like that for the foreseeable future. The best thing we could do about the current situation is to ride the wave, when it's low buy it, and when it goes up sell it and repeat that constantly for a steady x10 at the very last every 4 years.

If you start with 10k dollars, in 4 years that's 100k, in 8 years that's 1 million and you are already richer than you could ever hope for, if you start with 1k then it would take 12 years, and even with 100 dollars just 16 years and you are a millionaire if you ride the wave.
2116  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum Vs Cardano on: January 26, 2023, 08:51:30 PM
Do you think cardano will over take ethereum in terms of tech with voltaire being worked on this year. Along with erc20 converter for easy conversion to cardano via ethereum.   Cheesy
The thing here is that once a tech got popular, another company will try to adopt it too. I don't think Cardano will have a significant lead in technology, especially when ETH also has expert developers on their side. Yeah, they might have a little bit advantage but that doesn't mean much to the masses. It's the trust and utilities, especially when convenient enough, that's going to win in the end.
ETH will always try to improve on their pace though, because they are huge and they can't be as agile as other projects. Which means that other projects could end up building new things that ETH could follow up very very late, and that's not really a good thing at all. I know that it is going to be a simple thing for them to build it if they want to, but quick and simple are not the same things.

For example, it was simple to go from PoW to PoS many smaller projects did it within like a few months, but it took ETH a lot longer time, years, why? Because they are bigger. That's what ADA should work on, being fast and agile on their improvements so ETH can't catch up.
2117  Alternate cryptocurrencies / Altcoin Discussion / Re: The Future of NFT on: January 26, 2023, 07:28:11 PM
We saw images being a thing for NFT world, how about we start seeing something else. There is now a great deal of effort going into publishing world working within the NFT sphere as well, basically e-books but in NFT format meaning you would be able to buy and own a book, you could find torrented version anywhere anyway, so this way if you bought the book, you would have the nft of it, and if you ever want to sell it, you could do that as well.

I believe that it would be something decent if people worked on it properly and that is just one thing. We will see the NFT world spread towards many more industries and not just images, that will be the future of it.
That's right, NFT is an "idea", it's basically proof of ownership, and the images were mocked with "I could just take a screenshot of it and use it" and even with that it still made tens of millions of dollars to people. If it can go beyond that, beyond something that could be mocked and actually make people some money for it, then it could change a lot.

This started with games that use NFT and tokens and pay people money for playing, but obviously it wasn't enough and ended quickly. Next stop will be actually doing something people would be willing to spend money on, if that could be done, then NFT could increase a lot and be super valuable for sure, it just needs time.
2118  Economy / Speculation / Re: Will the bitcoin price continue to increase? on: January 26, 2023, 04:43:09 PM
The current bitcoin price situation can be confusing because today, the bitcoin price has gone up and down and doesn't move up or down too much, and it looks like the price looks sideways. Perhaps, we will continue to see the price like this until the end of the month, and probably in the next month, the price will start to rally again. But I don't know, that's just a temporary prediction while we also don't know for sure what will happen later. The important thing is to prepare your money. If you see the price is right for you, make a purchase.
I do not think that it will stay sideways for too long. I know that it has been sideways for a very long time before this increase, and people think that we may go back to that again and I understand the logic behind it. But, the cat is out of the bag and I believe that it won't happen again and again.

I think it is going to be something seriously good and we just need to make sure that we could end up with a good return eventually. The price has already moved big time, and it can't go back to sideways, it is going to keep making big moves, either up (which is the likely expectation) or down (unlikely) because once it starts being volatile, it's hard to make it go back to being sideways.
2119  Economy / Speculation / Re: Are we now on Crypto bull run? on: January 26, 2023, 01:51:52 PM
While it feels like we are in the beginning stages of a bull run, it also feels like we made a pretty big move and now we’re seeing profit taking from the short term traders. No idea how long this will continue, but I think it’s pretty bullish if we hit $24K before falling back below $20K. At this point it’s a game to try and tire the leveraged longs out and build some more shorts before making the next big move.
Isn't that normal? I remember at least 2 other big bull runs, and I am not saying it will be the same and we will break ATH or anything like that, but in all those big bull runs we had short term traders taking profit, and then we moved on to make more profit.

I believe that we are going to end up making a profit anyway and it should be just a temporary hiccup for now. Not saying it will be huge, but just because we had a small drop doesn't mean we will go down and go back to bear market, I think bull will continue as soon as this commercial break is over. We have too many people who bought at low, so we need to wait a bit before they all sell out and bull resumes again after that.
2120  Economy / Speculation / Re: Bye Bye Bear Market :) on: January 26, 2023, 01:18:35 PM
I won’t say that the bear market is over, but it’s better situation if we compare to the bear market. BTC is now building up a resistance at 23k usd. If Btc manages to break it and come till 30k usd, then we can say that bull market has started. Currently we are at very early stage. From here next 2-3 weeks will be very important and anything will happen in that. So yes, we have to think and see where will Bitcoin go in these coming weeks. In the mean time gather as many Bitcoins as you can in your wallet.
I agree, there is a line between being in bull market and not being in bear market and we are there currently. I would say bear market is "over" as in it is not in the bear market right now, but we are not totally out of it neither, one drop and we will be back in there again. So, we should be considering the current situation as both good but also dangerous.

It's good because we are up now, but it's dangerous because we could drop at any moment as well, so we should be a lot more careful. I believe that things have not calmed down just yet, and with what we have right now, it will definitely be something that will take some time to return to normal prices again, I mean higher prices.
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